The news that China has surpassed Japan as the world’s second-largest economy has generated a lot of attention. It shouldn’t. There are roughly 10 times as many people in China as there are in Japan, so the fact that total gross domestic product in China is now bigger than total gross domestic product in Japan [...]
Archive for the ‘Gross domestic product’ Category
Don’t Be Afraid of the Chinese Economic Tiger
Posted in China, Communism, Competitiveness, Economics, Free Markets, Gross domestic product, Japan, United States, tagged China, Communism, Competitiveness, Economic growth, Free Markets, Japan, United States on August 20, 2010 | 4 Comments »
Responding to Paul Krugman and Ezra Klein
Posted in Big Government, Bush, Economics, Fiscal Policy, Government Spending, Gross domestic product, Obama, Reagan, stimulus, Supply-side economics, Taxation, tagged Economic growth, Expansion, Ezra Klein, Government Spending, Jobs, Obama, Paul Krugman, Reagan, Recession, Recovery, stimulus, Unemployment on August 4, 2010 | 15 Comments »
I seem to have touched a raw nerve with my post earlier today comparing Reagan and Obama on how well the economy performed coming out of recession. Both Ezra Klein and Paul Krugman have denounced my analysis (actually, they denounced me approving of Richard Rahn’s analysis, but that’s a trivial detail). Krugman responded by asserting that [...]
France Wants to Move the Goal Posts to Hide Dismal Economic Performance
Posted in Big Government, Competitiveness, Economics, France, Gross domestic product, tagged Economic growth, France, GDP, Gross domestic product on October 5, 2009 | 3 Comments »
A column in the Wall Street Journal mocks President Sarkozy for suggesting that gross domestic product, which is how economic growth is measured, be changed to include subjective variables such as happiness. This is a transparent attempt to paper over France’s sluggish economic performance. Happiness is important, of course, but it comes about by allowing [...]
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